I read in the whitepaper that the project will be developing in Asia, Africa and South America. Why not in Europe or North America? Even in the most developed countries, there are many people without access to basic financial services.
You are right. There are still s level of demands for such services in some developed economies. But I believe that MicroMoney is concentrating on where the need is very high and that should be most developing countries. I think is a great way to start. Africa and Asia are great markets.
I cannot agree more on this. In fact, here in the Philippines, even when you have complied with their documentary requirements, there are some instances that they reject your application for opening a bank account. The bank officer told me that I should be a resident within their bank branch area of jurisdiction which was not included in their list of requirements for account opening. Although I have accounts with other banks, this is really bad since I was trying to open an account to try out if their services are better than the others.